An image of the 111 8th Ave building in Manhattan, provided by Digital Realty Trust
(WEB HOST INDUSTRY REVIEW) — Google confirmed reports on Wednesday that it has acquired 111 8th Avenue, a massive Internet hub in Manhattan.
Earlier this month Google announced it signed a contract to acquire the building, which spans 2.9 million square feet.
Google said on its corporate blog it closed the deal in partnership with Taconic Investment Partners, Jamestown Properties and the New York State Common Retirement Fund.
Though it did not disclose an exact price for the acquisition, the building is reportedly estimated to be worth $1.9 billion.
“As part of the deal, we’ve retained Taconic Management Company to continue the leasing oversight services and management of the building on our behalf, providing the same level of customer service the building’s tenants have come to expect,” wrote David Radcliffe, Google’s VP of real estate and workplace Services. “We believe that this is a great real estate investment in a thriving neighborhood and a fantastic city.”
As one of the most wired buildings in the world, 111 Eighth Avenue houses many high-profile tenants, including the data center operations of Digital Realty Trust, Equinix and Telx, as well as 500,000 square feet of Google’s own office space.
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